Thoughts on Money

"You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold." - Wiliam Jennings Bryan Cross of Gold Speech, 1896 [wikimedia.org]
“You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold.” – Wiliam Jennings Bryan Cross of Gold Speech, 1896 [wikimedia.org]
Fed chair Janet Yellen with former Chairmen Paul Volker, Alan Greenspan and Ben Bernanke, listen to remarks during the Federal Reserve centennial commemoration, 2013
Fed chair Janet Yellen with former Chairmen Paul Volker, Alan Greenspan, and Ben Bernanke, listen to remarks during the Federal Reserve centennial commemoration, 2013.[npr.org]
In order to prevent myself from becoming rapacious, I try to reduce the amount of time I spend thinking about money. However, recent developments have forced me to spend a lot of time understanding exactly why money has been behaving so strangely in recent times.  Read More...

Swimming Upstream: Nigeria’s Economy Defies All Logic

A Nigerian oil dealer pours gasoline into bottles at a roadside market in the commercial capital of Lagos in this October 31, 2008 file photo. REUTERS/Akintunde Akinleye/Files
A Nigerian oil dealer pours gasoline into bottles at a roadside market in the commercial capital of Lagos in this October 31, 2008 file photo. REUTERS/Akintunde Akinleye/Files

Nigeria’s petroleum industry is very peculiar. Despite producing 1.75 million barrels of crude oil per day(b/d), they only refine about 24,000 barrels into gasoline, leaving them 384,000 barrels short of meeting daily domestic demand.  

Read More...

The Indian Model: What China and Nigeria can Learn from India

Infosys Early Employees Circa 1980's [infosys.com]
Infosys Founders Circa 1980’s [infosys.com]
Infosys Founders Circa 2000's [infosys.com]
Infosys Founders Circa 2000’s [infosys.com]
I have been closely watching the developments in India recently and the more I know about the country the more excited and optimistic I get about the country’s future. China and Nigeria are two other countries which have evoked similar optimistic sentiments in me. I look at India as a weighted average of the strengths and weaknesses of both countries. Read More...

Protected: Importance of Equal Education in Nigeria

This is a test post, the source can be found here.

The world we live in is not a fair place and we are not all born into this world through ideal circumstances. Despite Thomas Jefferson’s idealistic sentiment,[note] A test footnote for when I am inclined to  diverge on a tangent[/note]

all men are not created equal and not all people are privy to equal opportunities.

This grim reality is illustrated in most places in the world, but especially true in third world countries.

History Class at Tuskegee
History Class at Tuskegee

The country whose interests are dearest to my heart is the Federal Republic of Nigeria. Nigeria is a classic example of a nation where the divisions between the upper and lower classes are exceptionally stark and the divisions are exacerbated by a dwindling middle class. I won’t discuss philosophically whether or not it is fair that certain people are born into greater privilege than others because that is simply an unfortunate but unavoidable fact of life. However, I am greatly concerned by the lottery we play in Nigeria concerning the education of our youth. This unequal access to education is the origin of what perpetuates classist divisions in Nigeria.

Understanding

A Random Picture
A Random Picture




The primary cause of this statistical inequity is one which has plagued humans since the beginning of time, the human weakness of greed. Echoing, biblical history when Judas betrayed Jesus for thirty silver shekels, Nigerian politicians betray their own people for millions of dollars a year.

Schooling 

 

  1. There was a time when Nigerian schools delivered an effective education to the extent that there was little difference between sending your children to a local school and sending your children to a school abroad.
  2. There was also little distinction between a child who had been educated at a public school and one who had attended a private school because the public school system was quite strong. 
  3. However, problems slowly began to arise after Nigeria gained independence from the British in 1967.